Daiwa Capital Markets Downgrades Bilibili (NASDAQ:BILI) to Neutral

Bilibili (NASDAQ:BILI) was downgraded by Daiwa Capital Markets from an “outperform” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports.

A number of other equities research analysts have also recently commented on the company. Barclays upgraded Bilibili from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $14.00 to $19.00 in a research report on Friday, August 23rd. The Goldman Sachs Group raised Bilibili from a “neutral” rating to a “buy” rating and raised their price objective for the company from $16.50 to $22.60 in a report on Thursday, September 26th. Daiwa America upgraded Bilibili from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Nomura Securities upgraded Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley initiated coverage on shares of Bilibili in a report on Wednesday, September 25th. They issued an “equal weight” rating and a $20.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Bilibili has a consensus rating of “Moderate Buy” and an average price target of $17.83.

Bilibili Price Performance

NASDAQ:BILI opened at $27.57 on Thursday. The company’s fifty day moving average price is $16.36 and its 200-day moving average price is $14.88. Bilibili has a 1-year low of $8.80 and a 1-year high of $31.77. The firm has a market capitalization of $11.39 billion, a P/E ratio of -16.51 and a beta of 0.83.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.55). The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.10 billion. Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. Bilibili’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) earnings per share. Equities analysts anticipate that Bilibili will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Bilibili

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Bilibili during the second quarter worth about $29,336,000. OLD Mission Capital LLC purchased a new stake in shares of Bilibili in the 1st quarter valued at approximately $14,849,000. Cubist Systematic Strategies LLC increased its holdings in shares of Bilibili by 385.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock worth $15,162,000 after buying an additional 779,614 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Bilibili during the 2nd quarter valued at approximately $11,490,000. Finally, SIH Partners LLLP lifted its holdings in Bilibili by 145.9% in the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after acquiring an additional 709,200 shares during the last quarter. Institutional investors and hedge funds own 16.08% of the company’s stock.

Bilibili Company Profile

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.